Baku, Azerbaijan, Sept. 14
By Rufiz Hafizoglu - Trend:
Iran and Turkey plan to open a joint bank, Head of Turkey-Iran Business Council Umut Kiler said, the Turkish media reported Sept. 14.
The plan to open a joint bank is not a new project, this issue has long been on the agenda, he noted.
He added that the establishment of a joint bank will contribute to strengthening of economic ties between Ankara and Tehran.
Kiler also noted that after the decision made by Ankara and Tehran on using national currencies in the economic ties, the opening of a joint bank meets the interests of the two countries.
In October 2017, during a visit of Turkish President Recep Tayyip Erdogan to Iran, it was announced about the intention to switch to "trade in national currencies, in order to protect economic relations from the pressure exerted due to currency exchange.”
In July this year, Turkey and Iran reached an agreement on switching to settlements in national currencies.
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